India Paraxylene market stands at nearly 3600 thousand tonnes in FY2023 and is anticipated to grow at a steady CAGR of 7.07% by FY2032.
Paraxylene is a colorless and highly flammable chemical that is chemically derived from chemical products containing benzene. It is synthesized through catalytic reforming of petroleum derivatives which is separated through crystallization, distillation, and the reaction of ethylbenzene. Paraxylene is primarily utilized as a raw material in the production of industrial chemicals such as purified dimethyl terephthalate (DMT) and purified terephthalic acid (PTA). Polyethylene Terephthalate is an intermediate product used by the plastic industry for the manufacturing of PET which is further used for manufacturing plastic products such as disposable plastic water bottles, and carbonated water bottles.
Demand for Paraxylene is likely to surge due to changes in food habits and increasing demand for packed food from the Indian population, which demand higher amounts of packaging material like PET for food & beverage packaging. Furthermore, the increasing usage of PET in the textile industry for the manufacturing of Polyesters due to its recyclability and energy-efficient manufacturing process to produce fibers are the key factors propelling the demand for Paraxylene in the domestic market. Also, it is anticipated that throughout the projection period, a rise in the use of rigid and flexible packaging would further fuel market expansion. The need for plastics like PET and PBT is rising across the nation as a result of the rising output in sectors like construction, food and beverage, electronics, and the automotive industry. This is also driving up the demand for high-performance plastics, which is anticipated to drive up their production in the upcoming years. Owing to these reasons, the India Paraxylene market is anticipated to reach approximately 6700 thousand tonnes in FY2032.
Based on region, India Paraxylene Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2023 West India has been dominating the market. In FY2023, West India consumed approximately 39% of the market. This region is projected to maintain its prominence in the upcoming years due to the allocation of numerous plasticizer plants in western states like Gujarat and Maharashtra.
Based on end-use, India Paraxylene Market is divided into Purified Terephthalic Acid and Others. As of FY2023, the Purified Terephthalic Acid industry is dominating the Paraxylene market with a share of 98%. Paraxylene is used for the synthesis of various chemical compounds such as dimethyl terephthalate,1,4-bis(chloromethyl) benzene, poly-p-xylylene, 4-(trifluoromethyl) benzyl alcohol, 4-(tri-fluoromethyl)benzaldehyde, 2,5-xylidine, etc, which contributes significantly to the market.
Major players operating in India Paraxylene market include Reliance Industries Limited and Indian Oil Corporation Limited. While some major global players are ENEOS Corporation, ExxonMobil Corporation, Chevron Phillips Chemical Company, Shanghai Petrochemical, S-Oil Corporation, Lotte Chemical, National Petrochemical Company, CNPC International Limited, and Others.
Years considered for this report:
Historical Period: FY2015-FY2023
Base Year: FY2023
Estimated Year: FY2024
Forecast Period: FY2025- FY2032
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Objective of the Study:
• To assess the demand-supply scenario of Paraxylene which covers production, demand and supply of Paraxylene market in India.
• To analyse and forecast the market size of Paraxylene in India.
• To classify and forecast India Paraxylene market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Paraxylene market in India.
To extract data for India Paraxylene market, primary research surveys were conducted with Paraxylene manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Paraxylene market over the coming years.
ChemAnalyst calculated Paraxylene demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Paraxylene to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Paraxylene manufacturers and other stakeholders
• Organizations, forums and alliances related to Paraxylene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Paraxylene manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Paraxylene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in FY2023
3600 thousand tonnes
Market size Volume by FY2032
6700 thousand tonnes
Growth Rate
CAGR of 7.07% from FY2024 to FY2032
Base year for estimation
FY2024
Historic Data
FY2015 – FY2023
Forecast period
FY2025 – FY2032
Quantitative units
Demand in thousand tonnes and CAGR from FY2024 to FY2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Purified Terephthalic Acid and Others)
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Member - Board of Directors
Osaka Gas Co. Ltd
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What is the anticipated market growth rate of India Paraxylene market in the forecast period?
Ans:
The India Paraxylene is anticipated to grow at a healthy CAGR of 7.07% in the forecast period.
Q2.
Which industry is dominating the India Paraxylene market?
Ans:
Purified Terephthalic Acid industry is dominating the Paraxylene market in India with an estimated share of nearly 98% in FY2023.
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